IMAT tenaciously holds up
Well, it's Friday, market close. I suggested coming back mid-day today and load up the cargo bay in preparation for a mini-blast-off higher next week. It looks like that's what's going to happen.
Five factors to consider:
1) IMAT holding so well today. Broader markets bleeding, yet IMAT holders don't appear to be in a hurry to jump ship;
2) Shareholders Meeting next week to look forward to (next Friday morning). ***Anticipation*** is the key. I personally don't expect anything of significance to happen there. But it's a major once-a-year event for this small company, and IMAT holders want to wait and see what happens before they sell;
3) Various new institutional investors are adding IMAT positions. Not only does this cause additional upside volume, but those knowing about it start to get excited --- they not only will hold their own positions, but add more. Additionally, similar minds think alike --- if one fish is nibbling, more fish are probably around as well, maybe even a whole damn school of 'em;
4) Investor Conference Call this week, for those strong-willed enough to get through it (most was boooooooooring), decidedly reassured the IMAT community that Imatron is here to stay, and is right on target in increasing growth and profits. The old saying comes back, "Imatron 2001 is definitely not your daddy's Oldsmobile";
5) TA2K won his vote of confidence on the IMAT thread boards, and thus will stick around --- and we know what a wild and exuberant cheerleader he can be.
Thus, I think next week looks good for a little rally (ask Chartness for the specific number).
I still feel, however, that IMAT will, following the Shareholders Meeting next week, tumble down to well below $2.00. Soooooo.... BIG IMAT parties are surely ahead, just not for a while.
Keep watching!! |
